Shortfall could be $500M for retirement fund system

By Stephen Janis
Published April 8, 2006 4:00am ET
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The Fire and Police Employees? retirement fund is underfunded by nearly $500 million, if present market value is used to calculate its worth.

The number, revealed in a report to the Taxation and Finance Committee Thursday, prompted Chairman Keiffer Jackson Mitchell, D-District 11, to express “concern” after the meeting.

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